North Dakota § 59-04.2-24 (501) Disbursements from income

North Dakota Statutes

§ 59-04.2-24 — (501) Disbursements from income

North Dakota § 59-04.2-24

Title 59Trusts, Uses, and Powers

Ch. 59-04.2Uniform Principal and Income Act (1997)

This text of North Dakota § 59-04.2-24 ((501) Disbursements from income) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 59-04.2-24 (2026).

Text

A trustee shall make the following disbursements from income to the extent that they are not disbursements to which subdivision b or c of subsection 2 of section 59-04.2-04 applies:

1.One-half of the regular compensation of the trustee and of any person providing investment advisory or custodial services to the trustee.

2.One-half of all expenses for accountings, judicial proceedings, or other matters that involve both the income and remainder interests.

3.All of the other ordinary expenses incurred in connection with the administration, management, or preservation of trust property and the distribution of income, including interest, ordinary repairs, regularly recurring taxes assessed against principal, and expenses of a proceeding or other matter that concerns primarily the income int

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A trustee shall make the following disbursements from income to the extent that they are not
disbursements to which subdivision b or c of subsection 2 of section 59-04.2-04 applies:
1. One-half of the regular compensation of the trustee and of any person providing
investment advisory or custodial services to the trustee.
2. One-half of all expenses for accountings, judicial proceedings, or other matters that
involve both the income and remainder interests.
3. All of the other ordinary expenses incurred in connection with the administration,
management, or preservation of trust property and the distribution of income, including
interest, ordinary repairs, regularly recurring taxes assessed against principal, and
expenses of a proceeding or other matter that concerns primarily the income interest.
4. Recurring premiums on insurance covering the loss of a principal asset or the loss of
income from or use of the asset.